Egypt to partner with Saudi Arabia in productive sectors

Posted on January 3, 2023   |  

Egypt is going to launch industrial partnerships with Saudi Arabia in several productive sectors to achieve industrial integration between Cairo and Riyadh and strengthen cooperation frameworks.  

On Sunday, the Egyptian minister met with several Saudi officials, including Minister of Industry and Mining Bandar AlKhorayef, Minister of Commerce Dr. Majid Al-Qasabi, Mohammad Abdulaziz, acting governor of the Foreign Trade Authority, Abdul-Rahman bin Sulaiman, Chairman of the Saudi Export Development Authority, and others.  

In 20221, the trade exchange between Egypt and Saudi Arabia grew by 41.3% year-on-year to $4.572 billion compared to $3.236 billion in 2020.

Moreover, Saudi investments in Egypt soared to $6.12 billion in 6,017 projects in the areas of manufacturing, construction, tourism, agriculture, services, finance, telecommunication, and information technology.